America’s Economic Freedom Has Rapidly Declined Under Obama
Millions of people around the world are emerging from poverty thanks to rising economic freedom. But by sharp contrast, America’s economic freedom has been on a declining path over the past decade. America’s declining score in the index is closely related to rapidly rising government spending, subsidies, and bailouts. According to the 2016 Index of Economic Freedom, an annual publication by The Heritage Foundation, America’s economic freedom has tumbled. With losses of economic freedom in eight of the past nine years, the U.S. has tied its worst score ever, wiping out a decade of progress.
Since early 2009: government spending has exploded, amounting to $29,867 per household in 2015, the national debt has risen to $125,000 for every tax-filling household in America – a total over $18 trillion, the government takeover of health care is raising prices and disrupting markets, and bailouts and new government regulations have increased uncertainty, stifling investment and job creation.